全球智库信息集成服务系统(G2TT): Are Government Spending Multipliers Greater During Periods of Slack? Evidence from 20th Century Historical Data

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18769
来源ID	Working Paper 18769
	Are Government Spending Multipliers Greater During Periods of Slack? Evidence from 20th Century Historical Data
	Michael T. Owyang; Valerie A. Ramey; Sarah Zubairy
发表日期	2013-02-01
出版年	2013
语种	英语
摘要	A key question that has arisen during recent debates is whether government spending multipliers are larger during times when resources are idle. This paper seeks to shed light on this question by analyzing new quarterly historical data covering multiple large wars and depressions in the U.S. and Canada. Using an extension of Ramey's (2011) military news series and Jordà's (2005) method for estimating impulse responses, we find no evidence that multipliers are greater during periods of high unemployment in the U.S. In every case, the estimated multipliers are below unity. We do find some evidence of higher multipliers during periods of slack in Canada, with some multipliers above unity.
主题	Macroeconomics ; Fiscal Policy
URL	https://www.nber.org/papers/w18769
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/576443
推荐引用方式 GB/T 7714	Michael T. Owyang,Valerie A. Ramey,Sarah Zubairy. Are Government Spending Multipliers Greater During Periods of Slack? Evidence from 20th Century Historical Data. 2013.